CHINA’S State Power Investment Corp. will buy several wind farms from Australia’s largest pension fund investor, IFM Investors, a source told Reuters on yesterday, in a sale that media had said would raise about A$1.5 billion (US$1 billion).

    The Chinese Government investment body won a months-long auction for the wind farms in Australia and South America from a pool of 10 bidders because it made the only offer to buy the entire portfolio, the source said, without giving a sale price.

    IFM and State Power representatives were not immediately available for comment. The source, who had direct knowledge of the deal, declined to be identified because it had not been made public.(SD-Agencies)